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Health-Care and Energy Stocks Lead a Subdued Post-Holiday Trading Day
Today's financial recap and tomorrow's financial outlook.
Minyanville Staff    

European markets and select Asian markets were closed today for holidays. This led to a much more subdued trading day than usual. Trading volume on the NYSE Composite was about 77% of its average from the last 10 days, and futures volumes were even less. The S&P 500 (INDEXSP:.INX) opened near the flat-line and traded up about 0.3% for much of the day before closing +0.38%. Health-care and energy stocks were the best performers in the benchmark index.

The utilities sector was in the red despite a positive performance from US Treasuries. The 10-year yield fell as much as 3.5 basis points in today's session before closing down at 2.719%. Large-cap biotech stocks continued to rally.

Halliburton (NYSE:HAL) reported a strong quarter before the market opened today. The company also provided very positive guidance on its North American business in the coming quarter, which implied its oil business would experience a significant profit increase. The stock rose 3.25% in today's session. Related company Baker Hughes (NYSE:BHI) reported similar results and guidance last Thursday.

Netflix (NASDAQ:NFLX) reported earnings after the close, beating estimates for EPS and revenues were inline. The company's guidance for new customer additions in international markets far exceeded the expectations, which led to a 7.38% increase in the stock in after-hours trading. The options market had been priced for a one-day move of 11.55% after earnings. In other company news, Ford (NYSE:F) announced that COO Mark Fields would take over as CEO of the company, with current executive Alan Mulally leaving as early as May 1.

Tomorrow's Financial Outlook

Tomorrow morning, March existing homes sales will be released. These sales account for about 90% of the total home sales in the US. Sales are expected to decline by 0.9% month-on-month to an annual rate of 4.56 million. The February FHFA home price index is expected to show a monthly increase of 0.5% after rising 0.5% in the month prior. The Richmond regional manufacturing index is also scheduled to be released.

Former Fed Chairman Ben Bernanke is scheduled to give a speech to the Economic Club of Canada in Toronto tomorrow at 11:45 a.m. EDT.

The only global economic report of note scheduled for tomorrow is the advance April reading of eurozone consumer confidence. Economists expect the index to show no change from the prior month at -9.3.

Thirty nine major US companies are scheduled to report earnings tomorrow. Notable companies include McDonald's (NYSE:MCD), AK Steel (NYSE:AKS), Lockheed Martin (NYSE:LMT), Arch Coal (NYSE:ACI), Gilead Sciences (NASDAQ:GILD), AT&T (NYSE:T), Yum! Brands (NYSE:YUM), Intuitive Surgical (NASDAQ:ISRG), and Discover Financial Services (NYSE:DFS).


Twitter: @Minyanville

Follow the markets all day every day with a FREE 14 day trial to Buzz & Banter. Over 30 professional traders share their ideas in real-time. Learn more.
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No positions in stocks mentioned.

The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.

Health-Care and Energy Stocks Lead a Subdued Post-Holiday Trading Day
Today's financial recap and tomorrow's financial outlook.
Minyanville Staff    

European markets and select Asian markets were closed today for holidays. This led to a much more subdued trading day than usual. Trading volume on the NYSE Composite was about 77% of its average from the last 10 days, and futures volumes were even less. The S&P 500 (INDEXSP:.INX) opened near the flat-line and traded up about 0.3% for much of the day before closing +0.38%. Health-care and energy stocks were the best performers in the benchmark index.

The utilities sector was in the red despite a positive performance from US Treasuries. The 10-year yield fell as much as 3.5 basis points in today's session before closing down at 2.719%. Large-cap biotech stocks continued to rally.

Halliburton (NYSE:HAL) reported a strong quarter before the market opened today. The company also provided very positive guidance on its North American business in the coming quarter, which implied its oil business would experience a significant profit increase. The stock rose 3.25% in today's session. Related company Baker Hughes (NYSE:BHI) reported similar results and guidance last Thursday.

Netflix (NASDAQ:NFLX) reported earnings after the close, beating estimates for EPS and revenues were inline. The company's guidance for new customer additions in international markets far exceeded the expectations, which led to a 7.38% increase in the stock in after-hours trading. The options market had been priced for a one-day move of 11.55% after earnings. In other company news, Ford (NYSE:F) announced that COO Mark Fields would take over as CEO of the company, with current executive Alan Mulally leaving as early as May 1.

Tomorrow's Financial Outlook

Tomorrow morning, March existing homes sales will be released. These sales account for about 90% of the total home sales in the US. Sales are expected to decline by 0.9% month-on-month to an annual rate of 4.56 million. The February FHFA home price index is expected to show a monthly increase of 0.5% after rising 0.5% in the month prior. The Richmond regional manufacturing index is also scheduled to be released.

Former Fed Chairman Ben Bernanke is scheduled to give a speech to the Economic Club of Canada in Toronto tomorrow at 11:45 a.m. EDT.

The only global economic report of note scheduled for tomorrow is the advance April reading of eurozone consumer confidence. Economists expect the index to show no change from the prior month at -9.3.

Thirty nine major US companies are scheduled to report earnings tomorrow. Notable companies include McDonald's (NYSE:MCD), AK Steel (NYSE:AKS), Lockheed Martin (NYSE:LMT), Arch Coal (NYSE:ACI), Gilead Sciences (NASDAQ:GILD), AT&T (NYSE:T), Yum! Brands (NYSE:YUM), Intuitive Surgical (NASDAQ:ISRG), and Discover Financial Services (NYSE:DFS).


Twitter: @Minyanville

Follow the markets all day every day with a FREE 14 day trial to Buzz & Banter. Over 30 professional traders share their ideas in real-time. Learn more.
< Previous
  • 1
Next >
No positions in stocks mentioned.

The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.

Health-Care and Energy Stocks Lead a Subdued Post-Holiday Trading Day
Today's financial recap and tomorrow's financial outlook.
Minyanville Staff    

European markets and select Asian markets were closed today for holidays. This led to a much more subdued trading day than usual. Trading volume on the NYSE Composite was about 77% of its average from the last 10 days, and futures volumes were even less. The S&P 500 (INDEXSP:.INX) opened near the flat-line and traded up about 0.3% for much of the day before closing +0.38%. Health-care and energy stocks were the best performers in the benchmark index.

The utilities sector was in the red despite a positive performance from US Treasuries. The 10-year yield fell as much as 3.5 basis points in today's session before closing down at 2.719%. Large-cap biotech stocks continued to rally.

Halliburton (NYSE:HAL) reported a strong quarter before the market opened today. The company also provided very positive guidance on its North American business in the coming quarter, which implied its oil business would experience a significant profit increase. The stock rose 3.25% in today's session. Related company Baker Hughes (NYSE:BHI) reported similar results and guidance last Thursday.

Netflix (NASDAQ:NFLX) reported earnings after the close, beating estimates for EPS and revenues were inline. The company's guidance for new customer additions in international markets far exceeded the expectations, which led to a 7.38% increase in the stock in after-hours trading. The options market had been priced for a one-day move of 11.55% after earnings. In other company news, Ford (NYSE:F) announced that COO Mark Fields would take over as CEO of the company, with current executive Alan Mulally leaving as early as May 1.

Tomorrow's Financial Outlook

Tomorrow morning, March existing homes sales will be released. These sales account for about 90% of the total home sales in the US. Sales are expected to decline by 0.9% month-on-month to an annual rate of 4.56 million. The February FHFA home price index is expected to show a monthly increase of 0.5% after rising 0.5% in the month prior. The Richmond regional manufacturing index is also scheduled to be released.

Former Fed Chairman Ben Bernanke is scheduled to give a speech to the Economic Club of Canada in Toronto tomorrow at 11:45 a.m. EDT.

The only global economic report of note scheduled for tomorrow is the advance April reading of eurozone consumer confidence. Economists expect the index to show no change from the prior month at -9.3.

Thirty nine major US companies are scheduled to report earnings tomorrow. Notable companies include McDonald's (NYSE:MCD), AK Steel (NYSE:AKS), Lockheed Martin (NYSE:LMT), Arch Coal (NYSE:ACI), Gilead Sciences (NASDAQ:GILD), AT&T (NYSE:T), Yum! Brands (NYSE:YUM), Intuitive Surgical (NASDAQ:ISRG), and Discover Financial Services (NYSE:DFS).


Twitter: @Minyanville

Follow the markets all day every day with a FREE 14 day trial to Buzz & Banter. Over 30 professional traders share their ideas in real-time. Learn more.
< Previous
  • 1
Next >
No positions in stocks mentioned.

The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.

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